Ferguson plc $FERG Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has decreased its holdings in Ferguson plc by 10.3%, now owning about 408,459 shares valued at approximately $89.1 million.
• Ferguson recently reported earnings of $3.48 per share, exceeding analysts' expectations of $3.00, along with a revenue of $8.50 billion.
• The company announced a quarterly dividend of $0.83 per share, representing an annual yield of 1.4% and a payout ratio of 35.55%.

TD Asset Management Inc decreased its holdings in Ferguson plc (NYSE:FERG - Free Report) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 408,459 shares of the company's stock after selling 47,019 shares during the quarter. TD Asset Management Inc owned approximately 0.21% of Ferguson worth $89,075,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust increased its holdings in Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Hemington Wealth Management increased its holdings in Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company's stock valued at $33,000 after buying an additional 52 shares during the last quarter. Brooklyn Investment Group increased its holdings in Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after buying an additional 115 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Ferguson by 230.8% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $37,000 after buying an additional 120 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on FERG. Weiss Ratings reissued a "buy (b-)" rating on shares of Ferguson in a report on Wednesday, October 8th. Robert W. Baird upped their target price on Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Oppenheimer upped their target price on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. UBS Group upped their target price on Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, September 17th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Ferguson in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Ferguson currently has a consensus rating of "Moderate Buy" and an average target price of $235.71.

Ferguson Price Performance

Shares of FERG stock opened at $240.05 on Wednesday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $243.40. The company has a market cap of $47.09 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The business has a 50 day simple moving average of $229.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's dividend payout ratio is 35.55%.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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